RC_LA_DA_303.3 Claims Essentials

1-5 CMB Points Advanced Education Loan Administration & Servicing Residential Residential Certified Mortgage Servicer (RCMS) Self-Study Web-Based Courses
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Non-Member $100.00

The best outcome of a foreclosure for a servicer is to have a third-party purchase the property at the foreclosure sale. This eliminates or reduces losses by the investor and the servicer. At times, however, the sale of the property does not cover the costs incurred by the investor or servicer involved in the foreclosure. In this case, if the loan is a conventional loan covered by private mortgage insurance, the servicer can file a claim with the PMI provider for reimbursement.

Claims Essentials describes the PMI claims process. The course begins by describing how to file a PMI claim. Next, it outlines which expenses are claimable and which are not. The course then describes the claims package and the disposition of claims proceeds. Finally, the course looks briefly at the Fannie Mae and Freddie Mac claims filing processes.

This is a single-family/residential course.


  • Initiating the Claims Process
  • Claimable vs. Non-Claimable Items
  • The Claims Package
  • Disposition of Claims Packages
  • Fannie Mae and Freddie Mac Claims Procedures

Seat time approximately 30 mins.

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